Published on 7/30/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $3.8 million 11.5% reverse convertibles linked to Whole Foods
New York, July 30 - ABN Amro Bank NV priced $3.8 million of 11.5% reverse convertible notes due Jan. 31, 2008 linked to Whole Foods Market, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Whole Foods stock falls below the protection price, 80% of the initial price of $36.45, during the life of the notes and finishes below the initial price in which case the payout will be 27.435 shares of Whole Foods stock.
ABN Amro Inc. is the agent.
Issuer: | ABN Amro Bank NV
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Issue: | Reverse convertible notes
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Underlying stock: | Whole Foods Market, Inc.
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Amount: | $3.8 million
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Maturity: | Jan. 31, 2008
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Coupon: | 11.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Whole Foods stock falls below the protection price, 80% of the initial price, and finishes below the initial price, in which case 27.435 shares of Whole Foods stock.
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Initial price: | $36.45
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Exchange ratio: | 27.435
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Pricing date: | July 26
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Settlement date: | July 31
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Agent: | ABN Amro Inc.
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Agent fee: | 1.75%
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